Bitcoin price is pressing down on the short-term support at $9,800 as selling pressure extends the action. The MACD shows that all is not lost in this battle; bulls still have the energy to defend short-term support. Bitcoin is unable to stay sustain gains above $10,000 following the drop experienced last week. In fact, it is as though the price is allergic to $10,000 and now seeking a safe haven towards $9,000. The correction that breached $10,200 came as an accurate prediction by FXStreet. Moreover, as long BTC fails to hold above $10,000, the risk for losses is dangerously massive. Especially now that the bears have regained control of the price. Bitcoin is not only trading below the moving averages, the 50 Simple Moving Average (SMA) 1-hour is expanding the gap below the longer term 100 SMA. Other technical indicators like the Relative Strength Index clearly show that the path of least resistance is downwards. On the flipside, all is not lost for the buyers as the Moving Average Divergence inches closer to the mean line (0.00). The slightly positive divergence show that the bulls have some energy left to at least defend the short-term support at $9,800. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/JPY Technical Analysis: The 10-day SMA above 118.00 caps the upside so far FX Street 4 years Bitcoin price is pressing down on the short-term support at $9,800 as selling pressure extends the action. The MACD shows that all is not lost in this battle; bulls still have the energy to defend short-term support. Bitcoin is unable to stay sustain gains above $10,000 following the drop experienced last week. In fact, it is as though the price is allergic to $10,000 and now seeking a safe haven towards $9,000. The correction that breached $10,200 came as an accurate prediction by FXStreet. Moreover, as long BTC fails to hold above $10,000, the risk for losses is dangerously massive.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
